Western New England Bancorp (NASDAQ:WNEB) Cut to Neutral at Piper Sandler

Piper Sandler lowered shares of Western New England Bancorp (NASDAQ:WNEBGet Rating) from an overweight rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has $10.00 price target on the financial services provider’s stock.

A number of other research firms also recently issued reports on WNEB. StockNews.com started coverage on Western New England Bancorp in a report on Wednesday, October 12th. They issued a buy rating for the company. Compass Point increased their price objective on Western New England Bancorp to $12.00 and gave the stock an outperform rating in a report on Wednesday, July 27th.

Western New England Bancorp Price Performance

Shares of Western New England Bancorp stock opened at $9.77 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.10. The company has a market cap of $216.70 million, a PE ratio of 9.30 and a beta of 0.51. The business has a 50 day moving average of $8.67 and a 200 day moving average of $8.36. Western New England Bancorp has a 52 week low of $7.13 and a 52 week high of $9.90.

Western New England Bancorp (NASDAQ:WNEBGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $22.88 million during the quarter, compared to the consensus estimate of $22.80 million. Western New England Bancorp had a return on equity of 10.61% and a net margin of 24.60%. As a group, equities research analysts forecast that Western New England Bancorp will post 1.05 earnings per share for the current year.

Western New England Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Wednesday, November 9th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, November 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.46%. Western New England Bancorp’s dividend payout ratio is currently 22.86%.

Institutional Investors Weigh In On Western New England Bancorp

Institutional investors have recently modified their holdings of the stock. Barclays PLC purchased a new stake in shares of Western New England Bancorp during the third quarter valued at $66,000. Tower Research Capital LLC TRC boosted its position in shares of Western New England Bancorp by 25.8% during the third quarter. Tower Research Capital LLC TRC now owns 10,046 shares of the financial services provider’s stock valued at $82,000 after buying an additional 2,061 shares during the last quarter. Corton Capital Inc. purchased a new stake in shares of Western New England Bancorp during the second quarter valued at $86,000. UBS Group AG boosted its position in shares of Western New England Bancorp by 22.2% during the first quarter. UBS Group AG now owns 9,843 shares of the financial services provider’s stock valued at $88,000 after buying an additional 1,786 shares during the last quarter. Finally, Delphia USA Inc. purchased a new stake in shares of Western New England Bancorp during the second quarter valued at $91,000. 52.73% of the stock is owned by hedge funds and other institutional investors.

Western New England Bancorp Company Profile

(Get Rating)

Western New England Bancorp, Inc operates as the holding company for Westfield Bank that provides a range of commercial and retail banking products and services to individuals and businesses. The company accepts various deposit accounts, including checking, business and municipal savings, money market and sweep, individual retirement, and other savings accounts; time deposits; certificates of deposit; and interest on lawyers trust accounts.

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